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Yum Licks Street On Earnings Ahead Of China Spin

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Courtesy of Benzinga.

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At least one company isn't feeling the effects of the Chinese economy's slowdown.

Yum! Brands, Inc. (NYSE: YUM) posted a strong fourth-quarter earnings report after market close Wednesday, beating the Street on fourth-quarter and fiscal year earnings ahead of a planned spin-off of its Chinese operations.

EPS excluding special items came to $0.68 for the quarter and $3.18 for the year, beating estimates of $0.66 and $3.17.

Sales in Yum's China division led the charge, with fourth-quarter sales up 7 percent and fiscal year sales up 2 percent. Global sales were up 5 percent for the year.

CEO Greg Creed reiterated the guidance the company issued in December of 10 percent operating profit growth in 2016.

Yum shares were trading slightly down after market close Wednesday.

Posted-In: Yum BrandsEarnings Long Ideas News Restaurants Movers Trading Ideas General

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